Long Term Disability (LTD) Insurance
You can help protect your professional income with Long Term Disability (LTD) Insurance. It’s designed to help replace your lost income so you can pay those bills that don’t stop coming when you stop working due to a serious illness or injury.
|Coverage available for:||You|
|You can apply for coverage if you are:||Under 65-years-old
An Association member working a minimum of 25 hours a week
Residing in Canada
|Benefit amount:||You may select a monthly benefit starting at $1,000 per month in units of $100 to the maximum determined by your net annual earned income. See the Income Ratio Guide below for details.|
|Benefit Period:||Benefits are payable to age 65.|
|Elimination periods:||You can choose a 60-day, 90-day or 180-day elimination period.
The elimination period is the amount of time you must be totally disabled before you receive benefits. Generally, the longer the elimination period, the lower the premium.
The 60 and 90-day elimination periods can be satisfied by combining intermittent periods of disability from the same cause within six months.
|Integration of benefits:||The monthly disability benefit you receive will be the amount you are insured for on the date you become disabled, reduced by any other benefits you receive as a result of your disability. Examples of other benefits include CPP/QPP; Workers’ Compensation; payment from any employer, retirement benefits, disability benefits under any other association group or individual insurance plans; or no fault automobile insurance plans.
Benefits will be reduced so the total of all your disability benefits do not exceed 100% of your average monthly pre-disability earned income.
|Your coverage ends:||To learn when your coverage ends click here.|
|Coverage limitations:||Please refer to Definitions and exclusions.|
|Rates:||Please refer to the Rate Card.|
Waiver of premium – If you are under the age of 65 you will not pay premiums if you are continuously disabled for 90 days and you’re receiving LTD benefits.
Partial Disability Benefit – You may qualify for this benefit if, immediately after receiving benefits, you start working and your medical progress is monitored by a physician. Read more.
The benefit is equal to the monthly total disability benefit reduced by:
- 50% of the net earnings from gainful employment, and
- any other amount payable to you that is listed in the Integration of Benefits provision.
Benefits will be further reduced if your partial disability benefit, net earnings and amounts payable to you under the Integration of Benefits provision exceeds 100% of your average monthly pre-disability earned income, after taxes. The reduction will equal the amount that exceeds 100% of your average monthly pre-disability earned income, after taxes.
Income ratio guide
|Annual Income||Monthly Benefit Amount|
|18,000 - 23,999||1,000|
|24,000 - 30,999||1,400|
|31,000 - 35,999||1,700|
|36,000 - 44,999||2,000|
|45,000 - 59,999||2,400|
|60,000 - 71,999||3,000|
|72,000 - 83,999||3,400|
|84,000 - 95,999||3,800|
|96,000 - 109,999||4,200|
|110,000 - 119,999||4,600|
|120,000 - 129,999||4,800|
This website is intended only as an outline of the insurance policy. The complete terms, conditions, exclusions and limitations governing the insurance coverage are found in the group insurance policy issued by Sun Life Assurance Company of Canada.